IOC to issue $500 million FCCBs for 10-year tenor
New Delhi   28-Jul-2011

IndianOil has informed the Bombay Stock Exchange that the company will issue foreign currency bonds of $500 million to finance its capital expenditure. The tenor of the bonds will be 10 years with the coupon rate of 5.625% per annum payable semi-annually and will be listed on the Singapore Stock Exchange. The bonds have been rated as Baa3 by Moody’s and BBB by Fitch.